Food expenditure rises by 15.6%

On the occasion of World Food Week and World Food Day 2009, which is held tomorrow, Friday the 16th of October, the National Statistics Office has published a set of data relating to the food scene in Malta, with a focus on the economic aspects of consumption.

This year, the Day’s theme devised by the United Nations is: "Achieving food security in times of crisis".

Estimates of the outlay on food incurred by private households in the five years 2004-2008 show that in the latter year, food expenditure was estimated to have increased by 15.6 per cent, to €651.5 million, over 2007. In 2007, compared to the preceding year, this share of household expenditure was estimated to have gone up by 8.8 per cent.

In the year under review, household spending was highest on three food products – bread and cereals, meat, and dairy products (including eggs). These rose by €20.8 million, €17.4 million and €6.8 million respectively when compared to 2007.

The biggest increase was recorded in consumption expenditure on fish, on which Maltese households are estimated to have spent €78.8 million in 2008.

By contrast, expenditure on vegetables and fruit was practically unchanged. Last year, food consumption expenditure was estimated at 16.2 per cent of total private expenditure by final consumers in the local market. In the previous year, this proportion had been estimated at 15.0 per cent.

In 2008, food inflation on the 12-month moving average basis was highest in respect of pasta, vegetables, flour and bakery products, cheese, butter and margarine. Current figures for 2008 put the value of imported foodstuffs at €438.0 million, notably cereals and prepared foods, meat and fish.

Malta’s food exports had an estimated value of €158.2 million, more than half of which were fresh or prepared fish.